6 replies to this topic

[suj]

I currently bank with Bank of America, and they charge $10 per incoming international wire transfer. Please let me know if there are banks that can do this for free. Thank you for your help.

[markber]

I currently bank with Bank of America, and they charge $10 per incoming international wire transfer.  Please let me know if there are banks that can do this for free.  Thank you for your help.

FirstIB does not list a separate fee for incoming international wire transfers. Its "general" fee for incoming wire transfers is 0.

http://www.firstib.c...s/acctfees.html

[dayzophunk]

Are fees for outgoing versus incoming wire transfers substantially different? Does the amount being transferred matter? (i.e. - if we're talking millions of dollars/euros/sterling, is this going to alter the fee structure)?

Truly appreciate any direction...

[marcos]

A workaround to incoming wire transfer fees, that works with pretty much any bank is to use xetrade.com's service.
You place a foreign excange trade at very competitive rates (about 1% away from interbank rates), you pay electronically at the currency of origin and receive electronically (ACH) for free in your US bank account. No minimum, no fees, they make their money from the spread of the currency. I've used it plenty of times to transfer GBP from UK bank account to USD in the US and it's by far the cheapest solution I've found.
Unless you have a US-dollar denominated account held outside of the US, I think that even with free international wire transfers, you will not be better off, because any bank will charge you more than xetrade for the currency conversion.

[Naperville Guy]

BOA has the worst wire transfer system. All i had is trouble with them

[candyflipper]

Check out the last table in this wiki:

http://money.wikia.c...ki/Moving_Money

[thespine-breakersclub]

Check out the last table in this wiki:

http://money.wikia.c...ki/Moving_Money

thanks for updating..